Shinawatra business boycott forces its stock prices to plunge

[webfact]

Shinawatra business boycott forces its stock prices to plunge

BANGKOK: -- Stocks of Shinawatra family businesses listed on the Stock Exchange of Thailand plummeted during the morning trade with SC Asset leading the plunge to fall 4.94% from yesterday’s close.

The fall of all stocks related to Shinawatra family was the result of yesterday’s boycott of all Shinawatra family businesses announced by the People’s Democratic Reform Committee (PDRC) leader Suthep Thaugsuban yesterday.

Advanced Info Services (AIS) share price fell six baht lower from yesterday’s close.

AIS closed at 211 baht, down 2.76% with trade value amounted to 1.268 billion baht.

Shin Corporation stock or INTUCH declined 1.25 baht or 1.69% to close at 72.50 baht from yesterday 73.75 baht.

SC Asset, owned by caretaker prime minister before she was appointed to premier, led the fall by 4.94% or 16 satang to close at 3.08 baht from 3.24 baht with trade value totaling 21.36 million baht.

SET Index closed down 14.78 points to end at 1306.22 points in half-day trade.

Stock analysts said investor sentiment was affected by the PDRC’s boycott of the stocks of the Shinawatra groups, thus forcing them to dump the group’s stocks out in the first hour of trading, causing prices of stocks in the Shinawatra group to tumble.

Source: http://englishnews.thaipbs.or.th/shinawatra-business-boycott-forces-stock-prices-plunge/

-- Thai PBS 2014-02-20

[Prbkk]

smells of manipulation ...

[TVGerry]

Let's see how long the Shinawatras will stay now that their own money is being threatened. Yingluck will say bye bye soon I bet!

[ourmanflint]

This is exactly what the PDRC should have done first. If the extended Shin clan start to see their money disappearing, they would have agreed to pretty much anything to stop the rot. Nobody would be hurt and life in Bangkok over the past few months might have been a little calmer.

[Prbkk]

Let's see how long the Shinawatras will stay now that their own money is being threatened. Yingluck will say bye bye soon I bet!

Gerry...you have said 'bye bye' 150 times....doesn't seem to be happening

[Nickymaster]

smells of manipulation ...

Then you should quickly buy some shares.

[TVGerry]

Let's see how long the Shinawatras will stay now that their own money is being threatened. Yingluck will say bye bye soon I bet!

Gerry...you have said 'bye bye' 150 times....doesn't seem to be happening

And you've said that the protests would fade away 151 times and they're still around aren't they?

This time however, we will see how selfless the Shinawatras are in wanting to serve the people. Their own assets are now disapearing and the longer this protest continues, more money will fade away! I bet you'll see a government more likely to give in to Suthep now or one that will resign 'for the good of the people shareholders umm family assets!'

[Local Drunk]

"...totaling 21.36 million baht."

Try multiplying this over a week or two. Perhaps even longer.

[iancnx]

What goes around comes around!

[david555]

by doing this move ....., i think suthep must be tyred of beeing alive....

[culicine]

Politicians are allowed to run businesses?....there's your problem right there.

[Scamper]

Suthep's campaign has clearly had a great deal of success, because devalued stock sends investment away. As the public now begins to focus on these companies and whether or not they wish to patronize them or not, Thaksin today closed his hotel's doors to farmers, who were booked with the help of the PDRC, as companies that had a past association with Thaksin now vehemently maintain they have nothing to do with him. Even if they don't, the public statements make clear business sense. They don't want an exodus of investment. GBS set a cautionary example of the power of a boycott.

[gemini81]

by doing this move ....., i think suthep must be tyred of beeing alive....

What? How is that if stated coherently?

Edited February 20, 2014 by gemini81

[icommunity]

Soon it will be time to buy back. I am sure the people who suffered from Thaksinitis and the Thaksinphoics will buy back.

[Scott]

An inflammatory post has been deleted. Please keep your posts civil.

[Red Snake]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Suthep's campaign has clearly had a great deal of success, because devalued stock sends investment away. As the public now begins to focus on these companies and whether or not they wish to patronize them or not, Thaksin today closed his hotel's doors to farmers, who were booked with the help of the PDRC, as companies that had a past association with Thaksin now vehemently maintain they have nothing to do with him. Even if they don't, the public statements make clear business sense. They don't want an exodus of investment. GBS set a cautionary example of the power of a boycott.

Please don't give Suthep credit for this he is not smart enough to think that out. It's was the fake monk who came up with it.

[54321]

I was just wondering does anyone know what percentage of these companies are owned by the shinawatras either directly or indirectly? Thanks

[rreddin]

smells of manipulation ...

It sure does!. You can also gurantee that some of the manipulators are shorting the stocks to line their own pockets. That, of course, works both ways as there is bound to be retalliation against those businesses who are perceived as supporting Suthep. Expect it to get brutal and for the SET to have bumpy ride.

[keemapoot]

I was just wondering does anyone know what percentage of these companies are owned by the shinawatras either directly or indirectly? Thanks

Lots of offshore company shell games can be played to mask real ownership.

Sent from my GT-N5100 using Thaivisa Connect Thailand mobile app

[iancnx]

Please don't give Suthep credit for this he is not smart enough to think that out. It's was the fake monk who came up with it.

Red snake before you start causing havoc in here with your utter nonsense you have a number of posts awaiting your reply in your thread of the day ..... You know the one with the farmers that you have deserted....... Or do you have nothing further on the subject? All concerned with cohesive argument would welcome the latter.

Edited February 20, 2014 by iancnx

[djjamie]

Good Luck Honorable Suthep.

It was tax and coup money that made these companies successful anyway.

[englishoak]

This could get very messy if the shark dealers start to circle, could get very messy for the SET in general, theres nothing like a good old bit of blood in the water to bring out those sharks.. problem is being international they wont care whos the victim. Could be a very bumpy ride for a while on the SET for a lot of investors, if hedge funds feel like a dabble it could be quite a funny few days and not just for the Shins.

This is a wild card gamble it could pay off or it could get very messy for a lot.

[looping]

by doing this move ....., i think suthep must be tyred of beeing alive....

On the contrary, I think he may have stumbled across the Shin-jugular!

I should imagine that he feels more alive than ever.

Sent from my iPad using Thaivisa Connect Thailand mobile app

[iancnx]

This could get very messy if the shark dealers start to circle, could get very messy for the SET in general, theres nothing like a good old bit of blood in the water to bring out those sharks.. problem is being international they wont care whos the victim. Could be a very bumpy ride for a while on the SET for a lot of investors, if hedge funds feel like a dabble it could be quite a funny few days and not just for the Shins.

This is a wild card gamble it could pay off or it could get very messy for a lot.

So are you going short or long?

[54321]

I appreciate that, that's why I said directly or indirectly. Anyone??

I was just wondering does anyone know what percentage of these companies are owned by the shinawatras either directly or indirectly? Thanks

Lots of offshore company shell games can be played to mask real ownership.

Sent from my GT-N5100 using Thaivisa Connect Thailand mobile app

[fleeing]

I don't like predicting violence, but if share values fall by more than 15-20%, count on a sudden increase in grenade attacks and shootings by 'unknown people'.

Perhaps the remaining loyal red-shirts will be openly mobilised to defend the master's wealth.

[Why ask]

smells of manipulation ...

Smells of honesty, unless one is employed to support the SIn Corp. of course.

She's now losing large percentages of family asset values, because of her/his despondency to quit the hand, against all ACES unplayed yet.

Good luck to you.

Honesty always pays.

[h90]

This is exactly what the PDRC should have done first. If the extended Shin clan start to see their money disappearing, they would have agreed to pretty much anything to stop the rot. Nobody would be hurt and life in Bangkok over the past few months might have been a little calmer.

The loose a bit on the stock market but get 10 times more on corruption....that wouldn't have worked....

[Spartakos]

Have anyone else noticed a trend of denouncing any relationship with Dr.T, it started after the failed amnesty bill, did not see his face smiling at us from the election posters of PTP as much either , now it's bad to be in business with shins. Soon dealing with him would be more damage than profit. Thaksin brand is loosing popularity with Thai people.

[ratcatcher]

smells of manipulation ...

"It smells like.....victory."